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Capital crunch from high yields won't stop AI build-out
The guest argued that while higher long-term bond yields create a capital crunch, the existential nature of the AI race means tech leaders will continue spending despite higher borrowing costs.
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The Callback
US Treasury yields headed to 10%
44 weeks between these two statements.
The guest expressed concern that the massive AI-related capital expenditure, while funded by healthy companies, faces a 'prisoner's dilemma' and risks a market reassessment if productivity gains take as long as prior tech waves.
The guest argued that while higher long-term bond yields create a capital crunch, the existential nature of the AI race means tech leaders will continue spending despite higher borrowing costs.